What is a socially oriented market economy? what role does the state play in its creation?

After the upheavals of the first half of the 20th century associated with the development of capitalism, advanced countries adopted Keynes’s idea of ​​introducing a socially oriented economic policy. The idea was limited government intervention in the economy in order to eliminate the shortcomings of the market system and the formation of protection of the population. Such measures helped to overcome the crisis of overproduction and eliminate some of the monopolies that disrupted the market. Government regulation mitigated the negative effects of the market on consumers.